O2 Sponsor Finance Provides $30MM Credit Facility for Borgman Capital's Gilman Cheese Recapitalization

The financing supports the next phase of growth for the Wisconsin-based cheese producer.

Apr. 1, 2026 at 12:00am

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O2 Sponsor Finance, a division of Old Second National Bank, has announced that it provided a $30 million senior secured credit facility to support Borgman Capital's recapitalization of Gilman Cheese Corporation, a Wisconsin-based cheese producer.

Why it matters

This credit facility will enable Gilman Cheese to invest in growth initiatives and strengthen its position in the competitive cheese market. As a long-standing regional player, Gilman Cheese's continued success is important for the local economy in Gilman, Illinois.

The details

The $30 million credit facility from O2 Sponsor Finance will support Borgman Capital's recapitalization of Gilman Cheese Corporation. Gilman Cheese is a Wisconsin-based cheese producer that has been in business for decades. The new financing will allow the company to fund growth projects and solidify its position in the market.

  • O2 Sponsor Finance announced the $30 million credit facility on March 31, 2026.

The players

O2 Sponsor Finance

A division of Old Second National Bank that provides financing solutions to support business growth and recapitalization.

Borgman Capital

A private equity firm that has acquired Gilman Cheese Corporation and is supporting the company's next phase of growth.

Gilman Cheese Corporation

A Wisconsin-based cheese producer that has been in business for decades and is now undergoing a recapitalization with the support of Borgman Capital and O2 Sponsor Finance.

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The takeaway

This credit facility from O2 Sponsor Finance demonstrates the continued investment and support for regional food producers like Gilman Cheese, which play an important role in local economies. The recapitalization will enable Gilman Cheese to invest in growth and solidify its position in the competitive cheese market.